2) The main types of projects are residential, commercial, industrial, and infrastructure projects. Determine the similarities and differences between those types of projects. Then, suggest the type of project that plays the most significant role in a country's economic development. Provide THREE (3) reasons to justify your suggestions.

 

Similarities of Residential, Commercial, Industrial and Infrastructure Projects:

1. Projects are made by professionals-Engineer and Architect.

2. Construction materials are needed.

3. These projects gives employment.

Differences:

Residential - Projects to be build are either houses, townhouses, condominium, apartments or subdivisions.

Commercial - Projects are like schools, hospitals, shopping centers, gyms and gymnasium.

Industrial - Projects for industrial companies like warehouses, factories and petroleum.

Infrastructure - Projects from public works such as highway, water, electric and communication systems.

Type of project that plays the most significant role in the country's economic development: Infrastructure Projects

Reasons:

1. Infrastructure projects affects not just the businesses but also the general public.

2. Infrastructure projects gives great impact in the economy.

3. Infrastructure projects captures employment.

Step-by-step explanation

*Residential Projects are intented for housing.

*Commercial Projects are intented for commercial activities.

*Industrial Projects are for industrial businesses.

*Infrastructure Projects are usually for the public interest and for large private corporations.

Type of project that plays the most significant role in the country's economic development: Infrastracture Projects

Reasons:

1. Once the infrastructure was done, it will serve both businesses and the public needs for better flow of companies and living.

2. Infrastructure projects allot higher cost compared to other projects. If it fails or successfully done, will definitely affect the country's economy.

3. Infrastructure projects are usually a big projects which means it needs a lot of workers. Country's employment rating also dictates its economic standard.